Doctor of Economics, Professor, Rector of Kyiv National University of Trade and Economics
Doctor of Economics, Professor, Head of the Department of Hospitality Business of Kyiv National University of Trade and Economics
Candidate of Sciences (Economics), Associate Professor at the Department of Hospitality Business of Kyiv National University of Trade and Economics
REVENUE MANAGEMENT DETERMINANTS IN HOSPITALITY
Background. In Ukraine, the problems of revenue management determinants in hospitality have not received significant interest. Effective revenue management ensures the successful operation of the enterprise, as well as awareness of the enormous benefits of hotel business entity preventive assessment of trends fluctuations in demand for hotel services from both an economic point of view and objective knowledge of interoperability with consumers.
The aim of the article is the disclosure of revenue management as a management technology, determinants and instruments of its implementation in the economic activities of the hotels.
Materials and methods. The methodological basis of the research of the problem is the application of science in the study of complex methods: general - abstraction, analysis and synthesis, inductive and deductive, historical, logical, from abstract to concrete, ensuring systemic nature study determinants of revenue management.
Results. The role of the revenue management was identified. The determinants of revenue management in hospitality were investigated. The prerequisites and advantages of implementing the elements of revenue management system in the activity of hotel enterprises were analyzed. The architecture of the revenue management system of the hotel business entity was developed.
Conclusion. The revenue management in hotel business requires specific approaches to the application of management techniques that reflect the determinants of successful business development information such as innovation and intellectual resources. These components are the basis of successful management regulation in hospitality, which create the necessary conditions for the effective use of capacity and service quality. Implementation of revenue management in hotel management system will enable hotel companies not only strengthen their competitiveness, but also increase capitalization and investment attractiveness.
Keywords: revenue management, determinants of revenue management, hospitality, management technology, demand, proposition, elasticity of demand.
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